Iran’s 100 jet deal with Airbus to be signed in days as A380s are dropped December 19, 2016 The deal is very nearly done. Iran has finalised an agreement with Airbus to acquire 100 jetliners, a senior official said today. It will be signed in the coming days, deputy roads and urban development minister Asghar Fakhrieh Kashan said. "We have finalised negotiations with Airbus and any day we will be able to sign the [...]
Aim-listed miner Atalaya brings the original Rio Tinto copper plant to target production December 19, 2016 The Aim-listed group that took over the original Rio Tinto copper mine in southern Spain has brought it up to its target output in "record time", Atalaya Mining said today. Atalaya's Proyecto Riotinto reached its target capacity of 9.5m tonnes per annum (mtpa) during a single run of 10 consecutive days this month, treating on average 28,685 dry metric tonnes [...]
German business confidence is at its highest level since February 2014 December 19, 2016 Germany business confidence rose in December to hit its highest level in almost three years, data has revealed today. The Ifo economic institute, based in Munich, said its its business climate index, based on a monthly survey of some 7,000 firms, rose to 111.0 this month, from 110.4 in November – beating Reuters' forecast of 110.7. [...]
MP support for Heathrow expansion reaches new high (says poll commissioned by Heathrow) December 19, 2016 It might have some prominent opposition, from London mayor Sadiq Khan to Boris Johnson, but Heathrow wants to make clear its expansion has hefty backing too. The airport has just released a new poll of 130 MPs by ComRes, which recorded 74 per cent of MPs backing the third runway; a rise of seven percentage points [...]
BP to pour almost $1bn into “world-class” West African gas hub in Mauritania and Senegal with Kosmos Energy December 19, 2016 Blue-chip oil major BP has said it will invest $916m (£733m) in gas exploration in West Africa through a partnership with American firm Kosmos Energy. BP will take a 62 per cent interest in Kosmos' exploration blocks in Mauritania and a 32.5 per cent working interest in its Senegal blocks. The 33,000 square km of acreage [...]
Danone warns on sales growth target December 19, 2016 Yoghurt maker Danone has reduced its forecast for like-for-like sales growth due to the poor performance of its probiotic yoghurt Activia. Danone said in a statement the company has been facing an "increasingly volatile and complex environment" and that "Activia's performance as well as aggravated market conditions in Spain have impacted Europe Dairy results". Read more: [...]
Christmas strikes 2016: From Southern rail to British Airways, why’s everyone striking? December 19, 2016 A raft of Christmas strikes is set to unfold this week, with travel particularly affected. Around 3,000 staff at various Crown post offices are set to walk out today, Tuesday and Saturday, while members of the Rail, Maritime and Transport (RMT) union unleash their latest industrial action on Southern rail today and tomorrow, with an ongoing [...]
Royal Dutch Shell offloads Australian aviation fuel business in £200m deal with Viva Energy December 19, 2016 Royal Dutch Shell has signed an agreement to sell its Australian aviation business to Viva Energy for around $250m (£200m). Viva Energy, which is controlled by European energy trader Vitol Holdings, bought Shell's other downstream activities in Australia in 2014 and sells Shell-branded fuels and lubricants. The company will "continue to supply aviation customers with [...]
Brewin Dolphin snaps up asset manager Duncan Lawrie for £28m December 19, 2016 FTSE 250-listed investment manager Brewin Dolphin has snapped up a UK private client investment management business for £28m. Duncan Lawrie Asset Management (DLAM) has around 1,000 client relationships and manages funds of £735m, Brewin Dolphin said this morning. On a pro-forma basis Brewin Dolphin's total group funds under management will increase to £36.1bn. The acquisition was financed [...]
After subdued 2016, contrained by Brexit and Trump, these bankers are predicting a 2017 bounceback for UK M&A December 19, 2016 Despite mega-deals involving the London Stock Exchange, Arm Holdings, Sky and a big takeover approach from British American Tobacco (BAT), even the most optimistic M&A banker would concede it’s been a somewhat subdued year for UK deals. After a record 2015, a year in which Megabrew was finally agreed and Anglo-Dutch oil major Shell tied [...]